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Volume 16 - Number 26

January 4, 2013

Consumers Favor Mortgage Debt Protection

Most consumers have a favorable view of debt protection services for their mortgage and credit card debt obligations, despite the occasional news report of abuses in the sector, according to a new study from officials at the Federal Reserve, based on data from the Consumer Credit Industry Association. “Consumer attitudes among purchasers have not changed from the high levels of favorable views of users in the past,” said the study, which was authored by Thomas Durkin and Gregory Elliehausen...

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Poll

What do you think is the biggest hurdle to meeting the new QM standards in the CFPB’s ability-to-repay rule?

A debt-to-income (DTI) cap of 43%.

48%

A 3% cap on points and fees.

29%

An interest rate cap of the average prime offered rate (APOR) plus 1.5%.

23%

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